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Kumba strikers face criminal charges

Oct 15 2012 14:55 I-Net Bridge

Company Data

KUMBA IRON ORE LIMITED [JSE:KIO]

Last traded 275.49
Change -9.51
% Change -0.03
Cumulative volume 342279
Market cap 88.73bn

Last Updated: 30/10/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Kumba Iron Ore [JSE:KIO] said on Monday it had obtained a Labour Court order‚ forcing striking workers at its Sishen mine to leave the premises immediately‚ following their failure to appear before the disciplinary hearing this morning.

String employees have been ordered not to be within 500m of the property.

“Should they not leave the mine immediately‚ the South African Police Service has been ordered by the court to remove them‚” Kumba spokesperson Gert Schoeman said.

He said the miners - estimated to be fewer than 120 - would mostly likely be dismissed and criminal charges would be formulated against them.

“They had until 11am this morning to report for a disciplinary hearing for embarking on an illegal strike. The criminal charges include extortion‚ intimidation‚ theft‚ trespassing and malicious damage to property‚” Schoeman said.

The strike‚ which began on October 3‚ has cost SA’s biggest iron producer more than R1.2bn in lost revenue.

The strikers are demanding a monthly salary increase of R15 000 for all Kumba employees. Their current salary range from R12 000 to R31 000 a month‚ excluding housing allowances‚ bonuses and other benefits‚ according to the company.

Last week‚ the miners made off with equipment worth R3.3bn‚ threatening to destroy it if their demands were not met.

At 2pm on Monday Kumba’s share price was down 1.28% at R492.59‚ valuing the company at R15.864bn.


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kumba iron ore  |  mining unrest
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